Why Heartbeam Shares Are Skyrocketing 75% Higher

Heartbeam Inc BEAT shares are trading higher by 76% to $2.20 Thursday morning after the company announced its patent for a 12-lead electrocardiogram patch monitor intended for detection of acute coronary syndrome and cardiac arrhythmia was issued by the USPTO.

Heartbeam says this builds on the company's growing intellectual property portfolio enabling 12-lead ECG diagnostics outside of a medical setting.

"This patent provides additional intellectual property protection for our breakthrough ECG patch technology, offering 12-lead ECG capability in the form of a simple patch that is similar in size and shape to existing single-lead ECG patch monitors in the market today," said HeartBeam CEO and Founder Branislav Vajdic.

"Our 12-lead ECG patch technology offers the potential to bring a level of diagnostic accuracy consistent with the current 12-lead ECG standard of care and could have a disruptive effect on the ECG patch market with its ischemia detection capability."

See Also: Why Is Rhythm Pharmaceuticals Stock Down Today?

According to data from Benzinga Pro, Heartbeam has a 52-week high of $5.47 and a 52-week low of $1.12.